Insurance investment in construction and property see year-on-year increases
Cambodia’s insurance business is continuing to make strides, with the total value of engineering insurance reaching approximately $4 million in 2013, a significant increase compared to 2012. According to data recently released by the Insurance Association of Cambodia, the value of engineering insurance purchased in 2013 increased 24 per cent compared to 2012, which saw investment of around $3 million. Ty Atith, assistant director of the association, said that engineering insurance is mostly taken out on large-scale construction sites, residential property developments, bridge and road construction, while insurance on purchases and installation of major machinery was increasing. …
